Bangladesh: Analyzing Hasina era Adani Power Deal
- Thread starter UKBengali
- Start date
SoulSpokesman
Trusted Member
Strider
Elite Member
If we decide, we can opt for another cheaper option. That said, I wouldn't do business with a controversial businessman like Adani.
c14-Isotope
Registered Member
- Bangladesh says 'now there is no big issue with Adani'
Bangladesh seeks full power supply restoration from Adani plant
Adani, which signed a 25-year contract under former prime minister Sheikh Hasina in 2017, has been supplying power from its $2 billion plant in India's Jharkhand state
SoulSpokesman
Trusted Member
@UKBengali @BananaRepublic @LeonBlack08
Has the IG too got Godified?
NEW DELHI, Feb 11 (Reuters) - Bangladesh has asked Adani Power to fully resume supplies from its 1,600-megawatt plant in India, a Bangladesh official said, after more than three months of reduced sales with supplies halved due to low winter demand and payment disputes.
Adani, which signed a 25-year contract under former Prime Minister Sheikh Hasina in 2017, has been supplying power from its $2 billion plant in India's Jharkhand state. The plant, with two units each of 800 megawatts capacity, sells exclusively to Bangladesh.
The Indian company halved supply to Bangladesh on October 31 due to payment delays as the country battled a foreign exchange shortage. This led to the shutdown of one unit on November 1, resulting in the plant operating at about 42% capacity.
Subsequently, Bangladesh told Adani to keep supplying only half the power.
The state-run Bangladesh Power Development Board (BPDB) said it had been paying $85 million a month to Adani to clear outstanding dues and has now told the company to resume supply from the second unit.
"As per our requirement today, they have planned to synchronise the second unit, but due to the high vibration, it didn't happen," BPDB Chairperson Md. Rezaul Karim told Reuters, referring to some technical problems that stopped the unit from restarting on Monday.
"Right now, we are making a payment of $85 million per month. We are trying to pay more, and our intention is to reduce the overdue. Now there is no big issue with Adani."
BPDB and Adani officials were due to meet virtually on Tuesday following another meeting recently to work out various issues between them, said a source with direct knowledge of the matter who did not want to be named as he was not authorised to talk to the media.
An Adani Power spokesperson did not immediately respond to a request for comment. In December, an Adani source said BPDB owed the company about $900 million, while Karim said at the time the amount was only about $650 million.
Regards
Has the IG too got Godified?
NEW DELHI, Feb 11 (Reuters) - Bangladesh has asked Adani Power to fully resume supplies from its 1,600-megawatt plant in India, a Bangladesh official said, after more than three months of reduced sales with supplies halved due to low winter demand and payment disputes.
Adani, which signed a 25-year contract under former Prime Minister Sheikh Hasina in 2017, has been supplying power from its $2 billion plant in India's Jharkhand state. The plant, with two units each of 800 megawatts capacity, sells exclusively to Bangladesh.
The Indian company halved supply to Bangladesh on October 31 due to payment delays as the country battled a foreign exchange shortage. This led to the shutdown of one unit on November 1, resulting in the plant operating at about 42% capacity.
Subsequently, Bangladesh told Adani to keep supplying only half the power.
The state-run Bangladesh Power Development Board (BPDB) said it had been paying $85 million a month to Adani to clear outstanding dues and has now told the company to resume supply from the second unit.
"As per our requirement today, they have planned to synchronise the second unit, but due to the high vibration, it didn't happen," BPDB Chairperson Md. Rezaul Karim told Reuters, referring to some technical problems that stopped the unit from restarting on Monday.
"Right now, we are making a payment of $85 million per month. We are trying to pay more, and our intention is to reduce the overdue. Now there is no big issue with Adani."
BPDB and Adani officials were due to meet virtually on Tuesday following another meeting recently to work out various issues between them, said a source with direct knowledge of the matter who did not want to be named as he was not authorised to talk to the media.
An Adani Power spokesperson did not immediately respond to a request for comment. In December, an Adani source said BPDB owed the company about $900 million, while Karim said at the time the amount was only about $650 million.
Regards
UKBengali
Elite Member
- Thread starter
- #366
The Adani Plant and also 2.4GW Roopur Nuclear when it comes online later on this year can allow to save billions a year in paying the furnace fuel fired power plants.
BD industry and consumers are soon going to benefit from much cheaper bills.
@BananaRepublic
BananaRepublic
Trusted Member
Did I not predict this!!??
Economy is tanking and IG cannot afford to showboat if it wants to stay in power.
Domestic oil based producers are more expensive and Adani is significantly cheaper.
Hasina is a truly visionary leader.
She had a comprehensive plan to lift the poorly educated people of BD out of poverty!
She needs to come back and rescue Bangladeshis again!
SoulSpokesman
Trusted Member
Kola bhai,
What took you so long to react and respond?
Regards
What took you so long to react and respond?
Regards
BananaRepublic
Trusted Member
Very humbling for Hasina’s detractors lol
BananaRepublic
Trusted Member
Some of us have work to do lol
Anyway, keep posting the truth.
It’s because of you and @UKBengali that I come here.
Great source of truth and honesty!
Cuts through the lies and propaganda!
BananaRepublic
Trusted Member
- Bangladesh says 'now there is no big issue with Adani'
Bangladesh seeks full power supply restoration from Adani plant
Adani, which signed a 25-year contract under former prime minister Sheikh Hasina in 2017, has been supplying power from its $2 billion plant in India's Jharkhand statewww.tbsnews.net
Why would anyone have an issue with a very good deal unless they were deluded?
BananaRepublic
Trusted Member
You will see a lot of cooperation and more deals between BD and India.
India is just holding off until BD has a legitimate government.
Free trade deal and some kind of currency pegging is also on the cards.
Currency pegging will enable trade without dollars.
Trading with Dollars adds to cost.
@UKBengali
BananaRepublic
Trusted Member
@UKBengali
It doesn’t make sense for a country to hold reserves in a currency that it doesn’t import with.
Bangladesh imports almost everything from three countries/entities:
1. India
2. China
3. GCC
Hence bulk of our reserves should be in those currencies - to facilitate seamless trade.
Small reserves of dollars and Euro required for trade with rest of world.
@SoulSpokesman @Joe Shearer
UKBengali
Elite Member
- Thread starter
- #375
Problem is how does BD get Rupees and Yuan as it like sells only 3 billion US dollars worth to China and India but imports 10x as much from them?
80%+ of it's exports are to US, UK and EU and they will only pay in Dollars, Pounds and Euros.
As these currencies are stable and highly liquid and so both China and India will readily accept them for BD imports.
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